Berry Plastics price talk emerges; Ellucian, ABB Optical, Schumacher, Hanson join calendar

By Sara Rosenberg

New York, Sept. 9 – Berry Plastics Corp. LLC released price talk on its term loan on Wednesday with launch, and Ellucian, ABB Optical Group Inc., Schumacher Group and Hanson Building Products (Stardust Finance Holdings Inc.) all surfaced with new deal plans.

Ellucian set a bank meeting for 10 a.m. ET on Thursday to launch a $1.61 billion credit facility that consists of a $150 million five-year revolver and a $1.46 billion seven-year covenant-light term loan B, according to a market source.

ABB Optical surfaced with plans to hold a lenders’ presentation at 11 a.m. ET on Thursday to launch a $650 million senior secured credit facility, a market source remarked.

The facility consists of a $100 million revolver, a $400 million first-lien term loan and a $150 million second-lien term loan, the source continued.

Schumacher Group scheduled a bank meeting for 1:30 p.m. ET in New York on Thursday to launch a $610 million credit facility, according to a market source.

The facility consists of a $75 million revolver, a $400 million seven-year first-lien term loan and a $135 million eight-year second-lien term loan.

Hanson Building Products set a lender call for Thursday to launch a fungible $240 million incremental first-lien term loan due March 13, 2022 talked at Libor plus 550 bps with a 1% Libor floor, an original issue discount that is still to be determined and 101 soft call protection through March 13, 2016, a market source said.

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